This year, make sure you ask,
Meet people who thought they were not eligible, but were (click here)
EITC
A project of the Family Economic Success Asset Workgroup hosted by:
Lakes & Prairies Community Action Partnership, Inc.
715 11th Street, North - Suite 402, Moorhead, MN 56560
Lakes & Prairies Community Action Partnership, Inc.,
is a 501c3 nonprofit corporation and Equal Opportunity Employer
(218) 299-7000
(800) 452-3646
(218) 299-7547 Fax
You may be eligible for the Earned Income and other Tax Credits!
How much is the Earned Income Tax Credit worth?
Up to $4,824 for a family with two or more children who earned less than $38,646 ($41,646 if married) in 2008.
Up to $2,917 for a family with one child who earned less than $33,995 ($36,995 if married) in 2008.
Up to $438 for a family without children who earned less than $12,880 ($15,880 if married) in 2008.
A tax credit can lower the taxes you owe or increase your refund.
If the tax credit is nonrefundable, it will lower a family’s tax bill, but not below zero.
If the tax credit is refundable, families may be able to receive some of their tax credits as a refund, even if they don’t owe taxes.
and...
Some states, like Minnesota, offer their own version of an earned income tax credit. In Minnesota, the Working Family Credit can be almost 30% of the federal EITC credit that is claimed.
There are other credits available to eligible individuals and families.
* The federal Child and Dependent Care Tax Credit can be worth up to $2,100. and the Minnesota Child and Dependent Tax Credit up to $1,440.
Now, more families are eligible for a Child Tax Credit refund for 2008!
Congress reduced the amount that a family must earn in 2008 in order to receive part of their Child Tax Credit as a refund (from $12,050 to $8,500). Almost 3 million more children will be eligible for the Child Tax Credit in 2008. In Minnesota, that will mean upwards of 50,000 children who were not qualified before, will be and an additional 300,000 who will be eligible for their families to claim a higher per child tax credit.